European stocks were little changed as investors weighed economic data in the UK and US.

UK retail sales rose by 3.7% in February against the same month a year ago, the Office for National Statistics (ONS) said. It beat economists' forecasts of a 2.5% gain and compared to a 4.4% year-on-year increase in January.

In the US, jobless claims dropped to their lowest levels in nearly four months last week, according to the Labor Department. Initial claims for unemployment benefits fell by 10,000 to a seasonally-adjusted 311,000 in the seven days to March 22nd, from a revised 321,000 the week before.

It was the lowest since November and surprised analysts who had expected claims to rise to 323,000.

Meanwhile, US gross domestic product growth in the fourth quarter was revised higher to an annualised rate of 2.6%, from the initial 2.4% estimate. However, the consensus estimate was for a revision to 2.7%.

US pending home sales declined 0.8% in February, falling short of expectations for a 0.2% increase. In January sales fell 0.2%.

Ukraine, Greece aid

Ukraine will secure $27bn in aid following an agreement with the International Monetary Fund IMF on Thursday.

The financial lifeline comes amid Russia's annexation of Crimea from Ukraine, which prompted Western leaders to enact targeted sanctions against senior officials responsible for the destabilisation.

Separately the IMF said it was in talks to give further aid to Greece. Officials familiar with the negotiations told Bloomberg the IMF is considering an aid payment of €3.6bn as its contribution to the next tranche.

The country is set to receive a commitment from euro-region authorities as soon as mid-April for a payment of €8.3bn.

Euro-area finance ministers will meet in Athens next week.

H&M, Cairn Energy

H&M declined as the European fashion retailer reported a rise in first quarter net income that missed market predictions.

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